A new study titled Business Performance in Walkable Shopping Areas found that walking shopping areas have a potential to prosper due to demographics, increased gas prices, public policies encouraging higher densities and changing life-style preferences.

The study consisted of a meta-analysis of 70 studies and articles. The author also conducted an exploratory study of 15 walkable shopping areas judged as successful to examine the sources of success.

Other key findings from the study include:

There is great enthusiasm for walkable shopping areas among retail experts, developers and many residents of urban and suburban areas.

Businesses can be successful if such areas reach a critical mass, cater to diverse needs, are located in higher density areas or have good mass transit service, and have a supermarket as an anchor.

With success, enterprises in walkable shopping areas are able to pay higher rents for their space, and housing near walkable commercial areas commonly sells for higher prices than in more distant areas.

The study evidence suggests that walkable retail is on the upswing, and likely to grow over the next several decades.